Smart ways to buy cheap health insurance

The type of health insurance you get will depend on two things; your income and the type of insurance policy you are looking to get. If you have low income, you will naturally go for cheaper policies which are not necessarily the best. The more money you put in your health insurance the better the policy. Either way, you have to find an insurance policy that is cheap but will cater for your healthcare.

Here are some smart ways you can get access to cheap health insurance policies

Do you have alternatives for individual health insurance?

Health insurance providers argue that the cheapest insurance for anyone is one you do not have to apply for. Depending on what state you are from and the income you earn, you may qualify for a cheap healthcare insurance programme. Medicaid is the perfect affordable individual health programme for anyone. You should contact Medicaid or go to the nearest office to determine your eligibility for the health insurance programmes. The government also offers affordable individual health programmes depending on where you are from.

Go by what you need and what you can afford

Another step that is really important is t find cheap health insurance that has the kind of coverage you are looking for at your most convenient price.  Determining the coverage is not that had, you just have to look at the benefits of the health insurance provider to determine whether you like it or not.  Purchasing health insurance coverage that you do not need will mean that you are spending more many than you actually should. Basically, the cheapest insurance cost should cover close to 10 essential benefits.

If you need a little boost on your funds, a payday loan could help tide you over till your next payday.

Government healthcare

This might be the easiest way to get cheap healthcare. All you have to do is go online to a government health insurance policy and apply. Make sure you do it when there is open enrolment. It is easy to get government healthcare if you have a life change. For instance, if you lost your job, just got a child, or are losing another healthcare coverage.

Compare different health insurance policies

Comparing different insurance policies is probably one of the best ways to get the most affordable policy for you. The digital platform has made it more convenient for people to look up policies from different providers online. You can compare them by the price and coverage they offer to determine which one suit you best. You should consider factors like the location of the insurance provider, their premiums and benefits when comparing them. you can also use your medical bill that dates up to a couple of years back to determine how much you spend and the type of coverage you need.

Pick a plan that meets all your needs

I can’t stress this enough, you should pick an insurance coverage that caters to all your needs. If you do not, you will end up signing up for multiple insurance policies to cater to the needs that you left out in the beginning. This could cost you a lot and defeat the purpose of cheap insurance.

Should You Be Saving For Health Care?

As we all know, healthcare and medical bills in the US can be very expensive. In fact, the prices are so high that millions of Americans are skipping visits to the doctors and avoiding any check-ups, vaccinations, or medications that they may routinley need. So, for many Americans, agreeing to make use of the healthcare system will only disrupt their finances further. If you’re already short of money, you might find it difficult to bring yourself to seek medical attention, even if it’s perhaps needed. However, this shouldn’t be the case. Americans shouldn’t be risking something more serious to avoid falling into debt. However, at the same time, debt is a very serious financial issue that could potentially lead to other problems. So, what can you do to ensure you both avoid falling into debt and seek medical attention when needed?  

Is Saving An Option?

Saving is the process of building up funds on the side of your average spending account. Usually, people will save money to repay any bills or prepare for any unexpected financial issues that could occur. Although this takes away some of your disposable income, building up a sum of savings will keep you covered for any problems. If you’re hit with an unexpected bill, you won’t need to turn to a payday or short term lender to help. Even though borrowing a loan can be very helpful, especially in emergencies, loans also come with various risks. Therefore, before borrowing, we suggest doing your research and receiving the best possible result. 

3 Ways You Can Start Saving

Saving isn’t an easy task. However, once you’ve found a saving method that works for you, the process will become much simpler. Some people don’t know where to start when it comes to saving. So, in order to help, here are 3 methods you could use…

50/30/20 Rule

The 50/30/20 rule divides your income into three sections. Firstly is 50%. This should be used on the essentials. For example, bills and grocery shopping. Following this is 30%. This section is to be used on the things you may want. For example, shopping, eating out, and overall activities. Finally, there is the remaining 20%. This last section is to be saved. This will ensure your savings are growing and that they’re not being abandoned, helping you in the long run. 

Envelope Method

The envelope method is created by using numerous envelopes and organizing them accordingly. You will create a category for every expense you may have each month and put them all into separate envelopes. Each envelope will contain the exact amount needed, meaning you will not overspend.

Traditional Methods

Everybody works in different ways. Even though the world is advancing and you can now even use apps to save money, people still prefer the traditional methods. A traditional method keeps your financial records simplified and straightforward, allowing you to reflect without any confusion. 

Even though saving for any medical bills relating to your health may take a while, knowing your savings are building up can help to put your mind at rest. If you are hit by a bill and cannot repay it all, at least you know you’ve got a partial amount to offer.

How to get health insurance without a job or money

There is nothing worse than being unemployed or having a low income. There are so many things you can miss out on, some of the most important ones being health insurance and mortgage. You do not have to worry though, you can find an affordable health insurance policy if you look hard enough. Even though there are multiple options available, you have to be careful while reviewing your options. You should not take up a health insurance policy just because you qualify.

The key to finding a perfect low-cost health care insurance coverage is to take your time and shop around for the best plan. Keep in mind that there is nothing smooth about this journey

Private health insurance

In some communities or groups, people offer their insurance plans and policies to the members and residents.  These kinds of plans are affiliated to clinics and local hospitals in those specific areas. These deals come with a low premium and inexpensive medical treatments for those who are lucky enough. The community plans, however, do not cover any expensive treatments if you happen to miss the payments or you refuse to share the expenses with other people. Finding yourself private insurance coverage can be difficult, especially if it is nowhere near your area of residence.

Government health insurance

If you have recently lost your job or you are unemployed for several years you may be eligible to receive a government assistance programme, Medicaid is made for people who are below the poverty line. This means that if you are not covered under your family members you are eligible for the government assistant programme. Basically anyone living below the poverty line totally qualifies for this type of loan.

The consolidated omnibus budget reconciliation act

The cobra is not just for everybody. If you had this plan while you were previously employed, you are eligible to continue having the coverage under this.  If you have young adults and are still under the COBRA plan, they can continue having the coverage even when you are unemployed. This is one of the best health insurance options for people who have lost their jobs have to continue some serious treatments for long term illnesses.  The downside of this medical plan is that it is expensive and will take up a huge part of your savings if you are not careful enough.  The premiums will increase or stay the same depending on your expenses. The plan is however limited when you become unemployed.

Family health insurance plans

This affordable care act is perfect for people who have lost their jobs. The marketplace plans offer several health insurance options from uncountable healthcare providers. The government also includes huge subsidies that are meant to cover the medical expenses, deductibles and premiums.

The college health insurance coverage

Young adults and kids who are in college can use this health insurance. This low-cost health insurance is perfect for this group of people since they are unemployed. The plans are very affordable and should be able to cover most medical expenses and treatments.

Payday Loans are not the answer to health insurance. However, they can help you with a few small day-to-day bills that you need to repay.

Why Payday Loans have such a bad reputation

It’s no secret that payday loans have a less than stellar reputation. But most people don’t know the real story behind it all of the negativity associated with them. If you are in desperate need of cash because you have some sort of crucial emergency expense. You will definitely want to learn all you can about these loans and the truth about them. A lot of people tend to avoid payday loans. However, mainly because negative things have been said from people who don’t even know what they are talking about.

Misconceptions about interest rates

One of the most common negative remarks about payday loans has to do with the interest rates that come with them. While it is true that rates on these loans tend to be a bit higher than many others. They really aren’t as bad as you might have been lead to believe. The interest rate that you get on your payday loan will depend on a number of factors. Some including where you live and what your credit is like. It is important to keep in mind that you won’t necessarily pay through the nose with interest with a payday loan.

Private lenders

Another common reason that payday loans are looked down upon by so many is because they are offered almost exclusively by private lenders. Or in other words not banks or credit unions. There are definitely some shady and disreputable private lenders out there who give out payday loans. However,  a vast majority are completely trustworthy. You shouldn’t avoid getting one of these loans simply because it is through a private lender. The more time you take to find the right lender to get a payday loan from, the more likely you will be to get a great deal on a loan.

Related content: Why you need health insurance

People are still living in the past

Many of the people who are vehemently against payday loans are simply living in the past in the sense that they aren’t aware of all the legislation that has been passed over the years to protect borrowers. It is true that there used to be far fewer regulations and laws to protect those who took out payday loans, but that simply is not the case anymore. These new regulations make it more difficult for private lenders to take advantage of their customers, which is a good thing for obvious reasons.

They have never actually gotten one before

Those who harshly and unfairly criticise payday loans usually have actually taken one out themselves, so they therefore aren’t really in a position to say anything about them. Once you have actually gone through the process of getting a payday loan, you will quickly discover that there really isn’t anything to be afraid of at all. Most people’s experiences with payday loans are perfectly fine and don’t involve sinking deeper into debt or anything of the sort.

What to remember when getting a payday loan

Payday loans aren’t nearly as scary or horrible as a lot of people make them out to be. But it’s still very important that you take the time to consider a few things before getting one yourself. The very first thing you should do is to think about whether or not you actually need a payday loan. If you just want some money to go shopping at the mall, you will most likely want to avoid borrowing money and instead simply save up yourself. Those who need to pay for an important car repair, medical bill or something else that is time sensitive could benefit greatly from one of these loans though.

You should also make a point of going online and researching your lender options. As there will be lots of them to choose from. The last thing you want to do is to select the wrong lender to borrow from. This is because you will definitely end up regretting it. A reputable lender will help you get the money you need without spending more than necessary. As long as you take the time to do this research, you should be able to get exactly what you need.

Benefits of health insurance policies

Most people assume that health insurance policies will cover just personalised expenses. This is not true at all; some of the best health insurance policies will cover other expenses as well. Some benefits of health insurance are not utilised simply because people lack knowledge of their existence.  The utility of health coverage does not depend on its features alone but also how you are able to utilise them.

Here are some health insurance policy benefits you should consider when picking out your health insurance plan

The convalescence benefit

Also known as the recovery benefit. The insurer will take care of your recovery expenses. This benefit is given to cover the supplementary costs that will arise during your hospitalisation. For instance, if you stay in the hospital for a long period of time that is a lot of income lost. The insurer basically makes a large payment in a lump sum amount in case there is a prolonged stay from a week or 10 days. Some policies will include compensation for family visits.

They cover alternative treatments

Alternative treatment has grown even more popular in recent years. Many insurance companies have been prompted to add this to their list of policies. However, they will only cover the alternative treatment if it takes place in government hospitals or recognised institutions that are listed in the insurance policy.

Organ donor expenses

Kidney transplants costs are very alarming. A regular person cannot afford an organ transplant without some form of insurance or help. Some health insurance policies handle the medical expenses you face before the organ transplant. Most insurance policies will cover their organ transplants as part of their policies.  You can sign up with insurance policies that reimburse the entire cost or one that will cover only a portion.

Attendant allowance

Some insurance companies offer an attendance allowance to the people who accompany the insured individual to the hospital.  Most insurance companies do it provided the person under insurance is a child. Normally, the insurance coverage will last for a week or two.

A free health check-up

One major benefit of having health insurance is that you can go for free health checkups. For some insurance companies, you can go for a free healthcare check-up once every couple of years.

Cashless claim benefits

The cashless claim policy is popular with many insurance providers; it means that if you do not have enough money to take out of pocket payments, the expenses will be settled between the insurer and the hospital. Another option could be to take out a payday loan to help tide you over till the end of the month. To make use of this benefit, you must attend a hospital that is covered by the insurance policy otherwise the cashless claim benefit will not work for you.

Tax benefits

Tax benefits are common among all healthcare plans. The premiums you pay are eligible for tax deductions.  If you are under the retirement age, you can claim the tax benefit on a health insurance premium for yourself.

Reasons why you must have health insurance

The constant increase in healthcare prices has made it pretty hard for the average individual to afford medical bills off their pockets. With the rising instances of diseases, the only way you can make sure you are safe is through getting health insurance coverage. Health insurance will provide you with the needed finances when you are facing some serious medical emergencies.  Heath uncertainties and risks are somehow a part of everyone’s lives.

Health insurance will pay for medical expenses you incur in the hospital.  You can be reimbursed for the expenses you incurred from the injuries or illness or the provider could make a direct payment to the healthcare provider. There are so many different types of health insurance plans, the famous ones being family health insurance, individual health insurance and critical illness insurance.

Here are some major reasons for getting health insurance

The changing lifestyle

There are endless reasons why insurance policy was put in place. The major shift in lifestyle has made more people prone to a wide range of risky health disorders.  Work schedules, poor quality foods, poor eating habits, commuting and the rising pollution levels have led to an increase in health problems.

The rise in medical costs

The medical costs have shown a dramatic rise lately. In case there is a medical emergency.  In case you are faced with a medical emergency, you will need to spend much of your savings on the hospital bills. This can be dangerous to your financial future and that is why you need to sign up for a health insurance policy. Be sure that you can afford these payments, as they can be pricey. If you’re in need of a little boost, discover how payday loans could help.

For the income tax benefits

The payments you make towards your insurance policy are eligible for tax deductions. This means that individuals within a certain tax bracket can claim a deduction for their health insurance premiums. This also works for the family member as long as they are under the same insurance policy.  The deductions are available when you make the annual payments on the insurance policy. You can get away with a lot on these tax benefits as compared to direct payments in the hospital.

To cover your pre and post hospitalisation expenses

This does not only apply to mainstream medical costs. Most insurance policies will cover outpatient expenses, diagnostic tests and other expenses. Diagnostic tests are so expensive which makes it very important to have coverage. The insurance will cover most of your medical bills, especially for people who pay for more expensive coverage.

Other benefits

You will also get additional benefits with an insurance policy. Most policies will cover things like surgeries, health check-ups, vaccinations, and other health care expenses. Instead of going into your savings to clear the medical expenses by yourself, you should consider an affordable insurance plan.

It provides us with essential financial backup during emergencies. If you have a family you have to support, you can buy family insurance to take care of the medical needs. For those who are living on their own, individual health insurance will be convenient.

How to find affordable health care

Many people children are not covered with health insurance; they are mostly covered with limited benefits and high deductibles. If your kids cannot afford any healthcare coverage or your employment plan does not cover such fields, you do not have to worry. There are child programmes that are dedicated to providing affordable health care for your children

Enrolling the kid in public programmes

There are programmes that work together in different states to provide children living in low to middle-income families with health coverage. Some of the most common examples include the CHIP and Medicaid programmes. Children who are below 18 qualify for the programme based on the income of their parents.

Work with a private insurer

Children who are in low and middle-income families qualify for low cost or free healthcare in some systems. Some insurance companies provide similar benefits to the same group of children. To find out, you will have to do extensive research based on your location. You can also communicate with your health insurance provider to find out if they offer the same plan. Most government services will provide reduced healthcare for children falling under specific categories.

Go to the local community health center

Local community health centres are good options for low-cost medical care. You can take your children there for treatment, immunization, dental care, checkups, mental health care, to get prescription drugs and treated when they are sick. You can also get services in community health care centres even when you are pregnant or facing a substance abuse issue.

Depending on your income or situation, you could get a free service or low-cost health care service. If you need some extra money to help fund your healthcare, read more about how payday loans could help. You can find community health centres near your location through Google maps or other official maps. Bear in mind that not all community clinics are open every day

Talk to your personal doctors

If your children do not qualify for public health programme, they do not qualify for the services offered under your insurance coverage, and your deductible is high you can try and negotiate with the doctor’s foe a reduced rate. Normally people who are facing these kinds of issues try to negotiate with the paediatrician before they can get these services.

It sounds so strange but cutting deals with your kids’ doctors is more common than you think. You can start by asking for a hospital that accepts patients who are on a fee for service basis. With a high deductible, you should consider yourself a self-paying individual. Do not hesitate to shop around for hospitals or a doctor who can provide an affordable health care price.

Try paying less for prescriptions

A better way to manage medicine money is to try and switch to generic, compare pharmacies. Find an over the counter alternative, contact the pharmaceutical in charge of the medication and look out for prescription samples. Call your child’s doctor for a low-cost alternative or other options to help you pay less for the medication.